Telecom Italia confirms CEO Patuano is stepping down

Telecom Italia confirmed on Monday its Chief Executive Marco Patuano was stepping down.

The group said in a statement it was in advanced negotiations with Patuano over his resignation. It said he had not formally presented his resignation yet.

Sources told Reuters on Saturday that Patuano was stepping down, ending weeks of speculation about his future as Telecom Italia's top shareholder Vivendi tightens its grip.

Marc Hill | Bloomberg | Getty Images

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